Here. Excerpt: The current rate for loans from the window is about 0.75 percent, while students are facing rates of 6.8 percent, Warren said. "In other words, the federal government is going to charge students interest rates that are nine times higher than the rates for the biggest banks — the same banks that […]
Category Archives: Student Loans
Here's an excerpt from the announcement: Today, the Consumer Financial Protection Bureau (CFPB) announced that it is gathering information to develop options for policymakers to make repayment of private student loans more manageable for struggling borrowers. The CFPB has found that private student loan borrowers who wish to pay their loans, but face high payments, […]
Daniel A. Austin of Northeastern has written The Indentured Generation: Bankruptcy and Student Loan Debt, 53 Santa Clara Law Review (forthcoming) Here's the abstract: A generation of Americans has borrowed heavily for their education, and hundreds of thousands of them are deeply in debt. Some 37 million Americans owe a total of approximately $1 trillion […]
by Jeff Sovern I've been studying up on student loans because we intend to include some materials on them in the next edition of our casebook. One thing I've learned is that the federal Higher Education Act and its implementing regulations require students obtaining federal student loans to have counseling before they take the loans. See 34 […]
This AP story explains that that 22.4 million [U.S.] households, or 19 percent, had college debt in 2010. That is double the share in 1989, and up from 15 percent in 2007, just prior to the recession — representing the biggest three-year increase in student debt in more than two decades. … that 22.4 million […]
Here is a report on the pain involved in satisfying the "undue hardship" standard for discharging student loans in bankruptcy and here is a story about the case Scott Michelman blogged about earlier this week addressing debt collector liability for misleading borrowers about the dischargeability of student loans.